According to the latest report by IMARC Group, titled "Food Waste Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global food waste management market size grew at a CAGR of around 5% during 2015-2020. Food waste management includes the adoption of a systematic approach for collecting, segregating, disposing of, transporting, treating, and containing food waste that is generated during poultry, agricultural, dairy, and seafood processing. Landfills, composting, and anaerobic digestion of the generated waste are some of the most commonly employed management procedures across the commercial and residential segments. There has been a rising need for effective food waste management that is pertinent for the conservation of the environment since its deployment reduces methane emissions from landfills and yields nutrients to the soil in the form of compost.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Food Waste Management Market Trends:
The global market is majorly driven by significant growth in the food and beverages sector. There has been a considerable rise in the generation of large volumes of wastes from hotels, restaurants, and fast-food joints. This has accelerated the need for food waste management to collect and segregate food waste at the source level in an efficient manner. The market is further driven by the numerous initiatives undertaken by the government of various countries for the deployment of improved waste management systems at residential and commercial levels in an attempt to reduce the excessive use of landfills for disposing of food waste. Additionally, they are also spreading awareness regarding the importance of food waste recycling and proper segregation of waste among the masses, which is expected to create a positive outlook for the market. Apart from this, biomass waste for energy generation is increasingly gaining widespread prominence on account of an enhanced focus on sustainable development. This, coupled with the advent of novel sensor-based technologies, automated waste collection, and enzyme-based food management solutions, is expected to provide an impetus to the market growth. On account of the aforementioned factors, the market is expected to exhibit moderate growth during 2021-2026.
- On the basis of the waste type, the market has been divided into cereals, dairy products, fruits and vegetables, fish and sea food, processed food, and others.
- Based on the process, the market has been classified into aerobic digestion, anaerobic digestion, combustion/incineration, and others.
- On the basis of the source, the market has been categorized into primary food producers, food manufacturers, food distributors and suppliers, food service providers, and municipalities and households.
- Based on the application, the market has been segmented into animal feed, fertilizers, biofuel, and power generation.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Clean Harbors Inc., Covanta Holding Corporation, FCC Environment (UK) Limited, Hulsey Environmental Services Inc., Remondis SE and Co. KG, Republic Services Inc., Stericycle Inc., Suez (Sofina), Veolia, and Waste Management Inc.
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